Cleary Gottlieb Steen & Hamilton LLP has made headlines with its readiness to offer up to $20 million for lateral partner hires as the intensely fought lateral-hiring frenzy continues unabated among big law firms. The development not only underscores the firm’s commitment to competing at the highest levels of the legal market but it underscores […]
Magic Circle Pay Wars ReportThe Big Law pay wars in London continue with Clifford Chance now lifting its newly qualified pay rates to keep pace with its competitors in the London marketplace, which has now seen junior lawyers’ pay increase by up to 50 percent over the past five years.The pay wars have largely been
In the latest salvo of the intensifying war for legal talent among top City firms, Quinn Emanuel has fired a shot across the bow, significantly boosting pay for its newly minted solicitors in London with a major legal pay increase. The powerhouse US-based litigation boutique, the storied ‘most feared’ litigation firm, is raising base salaries
The Legal Pay Wars Heat Up in The City as Quinn Emanuel Ups the Ante Read More »
Payday Partners In Deep CoverAlbert Goodwin, LawFuel contributorIt sounds somewhat sinister, but the ‘black box’ pay system for partner remuneration model that is being used by some big law firms is gaining attention and momentum.In an age of transparency – supposedly – the ‘black box’ model requires deep cover and belies the ages-old remuneration method
Why Are Big Law Firms Using The ‘Black Box’ Pay Model? Read More »
Big Law Salary Scale ListThe news that Milbank had kicked off the $225k salary payments has seen a raft of other biglaw firms join the fray – much to the joy of associates.Milbank kicked off the biglaw salary increases in November 2023 and the example was followed by Cravath a short time later, including law
The 80 Firms Who Are Hitting The Big Law Salary Scale? Read More »
Latest Report Shows Partner Pay Rates Increase AgainHard to believe maybe, but law firm partner billing rates are on the increase again – at least in the United States where a new LexisNexis survey reports that billing rates raised by an average of 5.4 percent, which followed a 4.5 percent increase in 2022.The survey showed
Why Have Law Firm Partner Billing Rates Gone Up So High? Read More »
Lathams Big Law Salary Scale SplurgeBen Thompson, LawFuel’s big law and List review editorWhen we published the ‘Profits per Partner’ list last year in our big law salary survey report, Latham & Watkins were topping the list at $7.3 million – and the firm is intent on ensuring it remains top dog in the partner
Big Law Salary Scale Boost Sees Latham Lift The Partner Profits Pool Read More »
No sooner have we written about the PEP earnings of big law firms when Kirkland & Ellis come out with a report (from Law.com) showing revenues growing to $7.21 billion and their profits per equity partner (PEP) rising to $7.96 million.Despite the high profile departure of law stars like London-based Neel Sachdev to Paul Weiss’s
Kirkland & Ellis PEP Growth Creates $8 Million Dollar Men (and Women) Read More »
Record Legal Fee RequestTom Borman, LawFuel contributing editorWe reported recently on a record-breaking ‘first’ billion dollar legal fee in the Elon Musk executive compensation case – but away under-estimated – with the fee looking at several billion more.The lawyers who successfully challenged Elon Musk’s $56 billion compensation package as excessive are now seeking a legal
Hourly Rate Unveiled: Lawyers Pursue $6 Billion Legal Fee Tied to Musk’s Pay Package Read More »
Law firm pay scale shakeup in London has seen huge money paid to junior lawyers in a major shakeup on the London law scene
